Bitcoin briefly dips below $66,000 as ETF outflows, geopolitical fears weigh on crypto
Analysts said the market continues to assess geopolitical uncertainty alongside Strategy's recent bitcoin sale.
Michael Saylor’s Strategy is making waves in the crypto sector after announcing its first Bitcoin (BTC) sale since 2022. The world’s largest corporate holder of Bitcoin sold 32 BTC worth $2.47 million. The sale marks a dramatic shift in tone for Strategy after Saylor spent years encouraging investors to “never sell” their BTC.
Bitcoin fell under $66,000 on June 3, albeit briefly, as record exchange-traded fund outflows and a rare sale by Strategy deepened a selloff that has wiped out billions in leveraged positions.
June 3, 2026, 6:45 amMarkets now imply a 66% chance bitcoin falls below $55,000 and a coin-flip chance of sub-$50,000 prices before year-end.
June 3, 2026, 6:23 amAnalysts said the market continues to assess geopolitical uncertainty alongside Strategy's recent bitcoin sale.
The jump signals return of fear after two months of calm market sentiment.
Peter Schiff predicted Bitcoin would break below $50,000 and then quickly plunge under $20,000, sparking a strong wave of pushback across the entire crypto community on X. We break down what Schiff actually said, the market context behind his call, and how Bitcoiners fired back at the veteran gold advocate.
Data shows bullish bets related to Bitcoin have suffered a massive amount of liquidations as the asset’s price has plunged below the $70,000 mark.
Binance Research says bitcoin’s recent weakness may be driven by capital rotating into a small group of hot U.S. equity themes. The firm argues that without a crypto-native crisis, such pressure has often proved temporary.
BTC plunged 6.4% to a 24-hour low of $65,708 and ether broke below $1,900 in Asian trading on Wednesday, just hours after the MSCI All Country World Index set a fresh all-time high on the AI rally.
Microsoft said AI helped speed Majorana 2 development, adding to growing concerns about when quantum computers could threaten Bitcoin's cryptography.
The crypto market is seeing a capital flight into dollar-linked stablecoins even as stocks and the Dollar Index remain calm.
The broader crypto market has endured one of its toughest weeks of the year, with $1.5 billion in liquidations recorded since Monday alone.